The 200-year-old quote from Adam Smith's early industrial pin factory illustrates
A)the gains to be had from task specialization.
B)the usefulness of 200-year-old economics textbooks.
C)how technology has progressed in 200 years.
D)a and b.

Question

Quizplus · Accepted Answer

Adam Smith's quote about the pin factory emphasizes the benefits of task specialization, which is a key concept in economics and business management. The quote still holds relevance today as the benefits of specialization continue to be studied and applied in modern industries. The other answer choices (B, C, and D) are not accurate explanations of the significance of Smith's quote.

The 200-Year-Old Quote from Adam Smith's Early Industrial Pin Factory